“The market is clearly nervous about Obama and the Dems.”
The day before the election the market had cautious optimism that McCain would win. With Obama the market immediately started dumping.
I’m sure that many American companies are actively exploring moving all or part of their operations overseas to a more hospitable environment.
the markets don’t seem to follow intrade. I noticed intrade and the market the days of the bailout votes. Even though intrade predicted the votes with high probability hours before, the market dropped significantly after the actual vote.
The market was climbing prior to the election not because it was expecting a McCain victory but rather because McCain was closing the gap and that the GOP would escape with 44 or 45 senators.
Since the election, the market has been tanking IN PART due to the Obama margin and, worse, the GOP will only have 41 or 42 senators.